We’re gonna need a Narcan for #Winning.
How do we know CNNLOL’s revenue plummeted by $400 million in a mere three years? Well, just when you think this story cannot get any better…
The information became public during a defamation suit against CNN filed by Navy veteran Zachary Young, in which Young triumphed. Last week, a jury found CNN liable for defamation and awarded Young $5 million in damages. The punitive phase of the trial is next, which is why we know the jury-confirmed liars at CNN lost $400 million in revenue over three years.
During the trial, the New York Post reported that “a forensic economist revealed that the ratings-challenged network brought in roughly $2.2 billion in revenue in 2021, $2 billion in revenue in 2022 and $1.8 billion in 2023.”
Additionally, CNN’s net worth was cut nearly in half between 2021 and 2023, “from $4.4 billion in 2021 to $2.3 billion in 2023.”
That’s a 48 percent collapse in value.
Tee hee.
CNN is, however, still quite profitable. “The economist Robert Johnson, who dug into the tax documents in order to determine what punitive damages should be awarded to Young,” the Post report adds, “revealed that CNN still boasted net income of $600 million in 2021, $300 million in profit in 2022 and $400 million in 2023.”
But-but-but if the Convicted News Network is so profitable, why did its net worth plummet?
Because cable TV is affirmative action and cable TV is dead and CNN depends on that affirmative action to survive.
If CNN is part of your cable (or satellite) package, you are paying CNN about $1.00 per month. Doesn’t matter if you watch or not. Doesn’t matter how much you hate CNN (as all decent people do). If CNN is available to you, you fund their lies and violence to the tune of about $12.00 per year.
Back in 2015, CNN was available in 97 million homes. Do the math. That’s about $1.2 billion per year in free money that has nothing to do with merit (i.e., advertising revenues based on viewership) and everything to do with not giving pay TV customers a choice to opt out of CNN.
Ah, but in 2015, 101 million U.S. homes subscribed to cable/satellite TV. By 2023, that number dropped to 60.8 million. That means, at best, that CNN is probably only in about 57 million homes, a drop of 42 percent.
Meanwhile, CNN’s ratings are catastrophically low, which means CNN will never survive on merit (i.e., advertising revenue based on ratings).
So even though only a little over zero percent of people with access to CNN watch CNN, CNN is still making about $55 million a month — or more than a half-billion dollars a year — for doing nothing more than being a part of 57 million cable packages. A lot of money, for sure, but a big drop from $1.2 billion per year.
A media company’s value is essentially based on its library of programming, its people under contract, and its future profits. Well, other than some documentaries, CNN doesn’t have much of a library. As far as people under contract, everyone at CNN is a loser (except Scott Jennings), and with the death of cable, future revenues will continue to decline.
CNN has also lost its ability to influence public opinion, which had been a large part of its value to a future buyer.
Within ten years, CNN will be a free add-on with a Max streaming subscription that no one watches.
John Nolte’s first and last novel, Borrowed Time, is winning five-star raves from everyday readers. You can read an excerpt here and an in-depth review here. Also available in hardcover and on Kindle and Audiobook.
Breitbart News
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